Overstock.com (OSTK) Trading Down 7.1%

Overstock.com Inc (NASDAQ:OSTK) shares were down 7.1% on Monday . The company traded as low as $14.98 and last traded at $15.09. Approximately 1,289,045 shares were traded during mid-day trading, a decline of 49% from the average daily volume of 2,526,132 shares. The stock had previously closed at $16.25.

Several equities research analysts have recently commented on the stock. DA Davidson dropped their target price on shares of Overstock.com from $58.00 to $51.00 and set a “buy” rating for the company in a research report on Tuesday, March 19th. They noted that the move was a valuation call. Maxim Group reiterated a “buy” rating on shares of Overstock.com in a research report on Tuesday, December 18th. Zacks Investment Research upgraded Overstock.com from a “sell” rating to a “hold” rating in a research report on Thursday, January 10th. ValuEngine cut Overstock.com from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, BidaskClub upgraded Overstock.com from a “sell” rating to a “hold” rating in a report on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $54.67.

The company has a quick ratio of 0.83, a current ratio of 0.89 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $486.68 million, a PE ratio of -2.53 and a beta of 2.06.

Overstock.com (NASDAQ:OSTK) last issued its earnings results on Monday, March 18th. The company reported ($1.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.48). Overstock.com had a negative net margin of 11.31% and a negative return on equity of 86.04%. The firm had revenue of $452.50 million during the quarter, compared to analyst estimates of $483.20 million. During the same quarter last year, the business posted ($3.72) earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. As a group, equities research analysts predict that Overstock.com Inc will post -2.54 earnings per share for the current year.

In other news, Director Joseph J. Tabacco, Jr. bought 5,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was bought at an average cost of $18.20 per share, with a total value of $91,000.00. Following the transaction, the director now directly owns 56,033 shares in the company, valued at approximately $1,019,800.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Paul Knab sold 2,500 shares of Overstock.com stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $16.93, for a total value of $42,325.00. Following the completion of the transaction, the insider now directly owns 15,812 shares of the company’s stock, valued at $267,697.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,495 shares of company stock worth $78,160. Insiders own 19.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Metropolitan Life Insurance Co. NY increased its stake in shares of Overstock.com by 303.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 7,168 shares of the company’s stock worth $97,000 after purchasing an additional 5,392 shares during the period. Fifth Third Bancorp increased its stake in Overstock.com by 250.0% in the third quarter. Fifth Third Bancorp now owns 7,000 shares of the company’s stock valued at $194,000 after purchasing an additional 5,000 shares in the last quarter. American International Group Inc. increased its stake in Overstock.com by 10.4% in the fourth quarter. American International Group Inc. now owns 15,178 shares of the company’s stock valued at $206,000 after purchasing an additional 1,429 shares in the last quarter. Townsquare Capital LLC bought a new stake in shares of Overstock.com during the fourth quarter worth about $254,000. Finally, Supplemental Annuity Collective Trust of NJ bought a new stake in shares of Overstock.com during the fourth quarter worth about $285,000. 63.36% of the stock is owned by institutional investors.

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About Overstock.com (NASDAQ:OSTK)

Overstock.com, Inc operates as an online retailer in the United States and internationally. It operates through Retail and tZERO segments. The company offers furniture; and home décor, including rugs, bedding and bath, home improvement, kitchen items, and other related products. It also operates Worldstock Fair Trade, a store that provides handcrafted products; Pet Adoptions, a free service and portal to display pets available for adoption; and Overstock Hotels, a portal that enables customers to search and book properties within its Website.

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